10/26/2026
Tax preparers across the country are getting ready for a December start date. Here is why you should never file your taxes using your last year’s return, and why waiting for your official W-2 is absolutely essential:
• Inaccurate Income Figures: Your income rarely stays exactly the same year-over-year due to raises, bonuses, unpaid time off, or changes in hours, which leads to misreported earnings.
• Shifting Tax Laws: Tax brackets, standard deductions, and credit limits change annually, meaning last year's numbers will not align with current tax regulations.
• Withholding Discrepancies: The amount of federal and state tax withheld from your paychecks changes based on new tax tables and any adjustments you made to your Form W-4.
• IRS Rejection or Audits: Filing with incorrect data triggers immediate flags in the IRS automated system, resulting in rejected returns, processing delays, or potential audits.
• Amended Return Penalties: If you file with old data and your actual W-2 shows different numbers, you will have to file an amended return (Form 1040-X), which delays your actual refund and can trigger interest or penalties on underpaid taxes.